Cornell Capital LLC, the former owner of Instant Brands, was accused of misleading lenders about the company’s performance in order to extract a $345 million dividend that helped drive the Instant Pot maker into bankruptcy. A trustee filed suit Wednesday …
The U.S. Supreme Court grappled on Wednesday over a bid by Meta’s Facebook to scuttle a federal securities fraud lawsuit brought by shareholders who accused the social media platform of misleading them about the misuse of its user data. The …
The co-founders of Donald Trump’s social-media startup lost a bid to have a Delaware judge impose financial sanctions on the former president and his lawyers for alleged misconduct in a suit over the value of their shares. Andy Litinsky and …
The U.S. Securities and Exchange Commission has settled with crypto lending platform Abra after charging the startup with selling unregistered securities to consumers and operating as an unregistered investment company. Plutus Lending LLC, doing business as Abra, agreed to settle …
Apple Inc. reached a $490 million settlement of a class-action lawsuit brought by a group of investors who accused Chief Executive Officer Tim Cook of misleading them in 2018 about the company’s sales prospects. Cook made false statements about the …
Lyft has been sued by shareholders for securities fraud after a mistake in a recent earnings release about a key profit metric sent the ride-sharing company’s stock price on a wild ride up, and then down. In a proposed class …
FTX investors sued Sullivan & Cromwell, accusing the law firm of aiding illicit schemes that helped advance a multi-billion dollar fraud before the crypto exchange’s collapse. Sullivan & Cromwell’s services “went well beyond those a law firm should and ordinarily …
U.S. Federal Reserve is considering ending an exemption that has allowed certain midsize banks to conceal losses on securities they hold, the Wall Street Journal reported on Friday, signaling a retightening of bank oversight is in the cards following last …
BOSTON — The co-founder of a Florida financial firm facing investor lawsuits alleging securities fraud has died by suicide, and a spokesperson on Monday denied wrongdoing, saying the death was not connected to a class action lawsuit filed last week. …
Liquid Claims LLC, a claims settlement services provider for investors involved in securities class action suits, has launched Forecast Plus, a software tool designed to provide clients with a detailed analysis of the their losses and possible recoveries. Forecast Plus …